Last Will and Testament
A properly prepared estate plan, including a will, allows you to direct where your property will go after your death. Planning ahead is the smart thing to do. Every Canadian who is 18 years of age or older should have:
Your Last Will is the legal document by which you identify those individuals or charities that are to receive your property, possessions, and belongings on your death. You should also name the person who you want to carry out the terms of your Last Will, called your “executor”. In your Will you will also name a guardian for any children who are minors at the time of your death.
There is no legal requirement that a lawyer needs to write your Last Will. It is wise, however, to get legal advice in any of the following situations:
- if you are about to be married;
- if you are under 18 years of age;
- if you have a past history of mental impairment;
- if you are separated from your spouse;
- if your estate is likely to be very large (to get advice on tax saving);
- or if you own assets outside of Canada.
Your Will is a is a very important document.
That is why it is important to ensure your will is properly done and up-to-date. A will that is out of date or contains errors could create more problems than it solves. Laws change, personal and financial circumstances change, and new developments arise with respect to financial resources and estate planning. Let the experts at Active Professionals guide you through the process estate planning. We will help you in creating your will, determining your personal directives and naming power of attorney.